Jones Lang LaSalle acquires Means Knaus Partners
By Mark Holan
Tampa Bay Business Journal
Published: Aug 26, 2013

Jones Lang LaSalle (NYSE: JLL) has acquired Means Knaus Partners, a property management company currently operating the SunTrust Financial Center in Tampa and several Orlando properties.

Terms of the deal were not disclosed in a news release Monday afternoon and were not immediately available through JLL's filings with the U.S. Securities and Exchange Commission.

The transaction will boost JLL's portfolio of office space under management by about 16 million square feet with new properties in Chicago, Dallas, Denver, Houston, Los Angeles as well as Florida.

"The culture was right. The properties were right. It brings a lot more depth and resources,” Hal Flowers, managing director of MKP's eastern division, told the Tampa Bay Business Journal.

He said SunTrust tenants would benefit from the addition of JLL's expertise and resources.

JLL manages the Urban Center, Tampa Commons, University Corporate Park and other Tampa area properties. With the acquisition, JLL will have the top property management market share in Orlando and the third slot in Tampa, according to the release.

Founded as a private real estate investment and management company in 1998 by industry veterans Steve Means and Doug Knaus, MKP manages 80 prime office assets throughout the United States and has nearly 100 MKP employees.

Mark Holan's beats include commercial real estate and residential real estate.